Accounting for income taxes (60370099) - Online

This course places emphasis on the practical application of IAS 12 Income Taxes, including how tax-effect accounting is applied to a set of financial statements.

Key topics:

Income tax expense

Determining income tax expense

Calculating current tax expense

Calculating deferred tax expense

Recognition of DTAs and DTLs

Offsetting current and deferred tax balances

Disclosure requirements

Advanced tax-effect accounting issues

Items recognised outside of profit and loss

Asset revaluation and CGT assets

Motor vehicles and the depreciation car cost limit

Share issue costs

Business combinations and fair value adjustment

Equity carrying amounts and tax-effect accounting

Compound financial instruments

This course consists of one online course and one online assessment.

Learning objectives

Calculate income tax expense (on the front page of the income statement)

Calculate current tax expense (the amount of tax owing to the taxation authorities for the current year), including identifying some of the most common differences between accounting deductions and tax deductions